Japanese manufacturers have been met strong competition in China from local newcomers, forcing them to cut back production and staffing or, in the case of Mitsubishi Motors Corp, pull out altogether. Honda and Nissan are reportedly planning to slash production capacity in the world’s biggest auto market as sales fall, while China’s BYD Co revealed plans this month to roll out new models and expand its dealership network in Japan.
Honda Motor Co and Nissan Motor Co are teaming up to develop electric car technology, seeking to keep up with their Chinese counterparts in the rapid shift toward clean energy.
The carmakers will collaborate on core technology for battery-based electric vehicles, including software, they said in a statement Friday, adding that a memorandum of understanding for the strategic partnership has been signed.
